The European respiratory market is a challenging environment due to an ongoing lack of innovative drugs, according to a new report from the global growth consultancy firm Frost & Sullivan (http://www.pharma.frost.com). ‘Currently, primarily combination drugs drive the market, with top brands facing no real competition from generic alternatives. The emergence of affordable, innovative and effective inhalers and product solutions will provide impetus to market growth,’ F&S concludes.
This market in Europe alone earned revenues of $5.84 billion in 2005 and estimates indicate revenues could reach $10.43 billion in 2012.
‘Combination drugs are the future of European respiratory therapeutics, which will gain significant momentum and impel market growth in Europe,’ said F&S Research Analyst Sylvia Miriyam Findlay. ‘At the same time, market expansion will be driven by the uptake of more efficacious drug delivery techniques that promote improved treatment regimes in asthma/COPD patients.’
However, she added that the lack of new drugs on the horizon will slow down overall growth rates. ‘The R&D pipelines of major participants regarding respiratory drugs are not very promising and such a scenario will restrain market expansion.’
Though the European market has limited generic competition, Ms Findlay said it is ‘…essential to maximise on revenues generated by top selling drugs before their patents expire. Effective life-cycle management, including product line extensions to cover other respiratory illnesses, will be the best way to gain competitive advantage.’
In addition to effective life cycle management, pharmaceutical companies need to increase their investments in R&D and develop more efficient and cost-effective drugs that support improved disease management, she advises.
This market is part of the Pharmaceutical & Clinical Diagnostics Subscription, which also includes research on European Alzheimer’s, diabetes and CNS markets. F&S also reports that all research, included in subscriptions, provides detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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